During DST the time is shifted forward by 1 hour to Eastern Daylight Time (EDT); which is 4 hours behind Greenwich Mean Time ( GMT-4 ). After the Summer months Eastern Time is shifted back by 1 hour to US Eastern Standard Time (EST) or (GMT-5).
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In 2003, Verizon offered buyouts to 152,000 employees. Ford is trying to eliminate 30,000 jobs through buyouts by 2012. Federal agencies have increased the buyout offers to government employees, resulting in more than 22,000 federal workers leaving their jobs over the last two years. Insurance company Allstate announced this month that 1,000 employees had accepted a voluntary buyout offer extended to 6,800 members of the workforce.